Michiganders hard hit by the foreclosure crisis might get some help thanks to a national settlement approved this week by a federal judge. But that help won’t be coming immediately.

The $26 billion settlement involves 49 states, the District of Columbia and five of the largest mortgage lenders in the United States: Bank of America, Wells Fargo, J.P. Morgan Chase, Citibank and Ally Financial.

The state of Michigan is expected to reap a half billion dollars from a settlement between 40 states and five of the nation’s largest mortgage lenders.

Michigan has been among the hardest hit states in the foreclosure crisis. The settlement will help homeowners who were in foreclosure between 2008 and 2011.

Bank of America, Ally Financial, Wells Fargo, J.P. Morgan Chase and Citigroup are the banks in the settlement. The deal will settle complaints the mortgage lenders wrongly foreclosed on borrowers and forged documents.

The city of Detroit and Bank of America have announced what both call “the start of a new partnership.” Bank of America says it will demolish 100 “vacant and low-value” homes in Detroit at their own expense. The bank says it will also donate 10 refurbished homes to the city’s Project 14. That’s an effort to lure Detroit police officers back to the city with housing incentives. Karla Henderson, Mayor Dave Bing’s Group Executive in charge of Project 14, says she and the Mayor will choose the 10 homes from the bank’s inventory, based on what participating officers are interested in.